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Netflix on the verge of hitting 100 million subscribers

Netflix on the verge of hitting 100 million subscribers”

Interestingly, the company is expecting add as any as 600,000 domestic subscribers and 2.6 million worldwide subscribers in the second quarter. The prediction had been made yesterday by the company with the release of its first-quarter earnings.

Netflix added another 3.53 million subscribers internationally last quarter, along with 1.42 million in the U.S. Analysts expected 3.71 million net additions internationally and an additional 1.56 million customers in the U.S.

People were able to watch videos everywhere on their smartphones and tablets, said Michael Pachter Wedbush Securities analyst.

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The one blemish in the first quarter for the Reed Hastings-led company was that is fell short of forecasts for subscribers growth - although the 4.95 million new subs left it just shy of the 100-million subscriber level.

Netflix may know something the rest of the world doesn't in terms of its second quarter, but if 100 million subscribers is in the cards for this weekend, it certainly looks like the SVOD will move ahead of its projections. Its stock surged $1.90 to $149.15 in Monday's extensive trading, even though user growth through the first four months came in somewhat below management estimates.

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He downplayed competition, saying "entertainment is not a zerosum game" and that it is more about winning fans with content. Both Amazon and Netflix have also been investing heavily in original programming to win subscribers to their on-demand video services. Netflix's subscriptions range from $8 to $12 per month, with the most popular option at $10. Past year the firm spent a similar amount on marketing across its entire operation.

Netflix, on the other hand, has no plans to do either. Netflix said it will spend $1 billion marketing in 2017 to bring more attention to its shows. Netflix credits the ongoing growth to a price change in mid 2016. It lost some long-time USA subscribers after their rates went up by as much as $2 per month past year. "If you own Netflix because you think they are going to add subscribers globally, you're still going to own it". The Los Gatos, California, company earned $178 million on revenue of $2.6b in the first quarter. Netflix began its European expansion in 2012, entering the UK (EWU), Denmark, and Finland. Analysts are forecasting net income of $US477.2 million, or $US1.09 a share, on revenue of $US11.2 billion, based on the average of estimates compiled by Bloomberg.

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